China Buys Another Record Amount of Corn
Brings country closer to hitting $36.5B target for imports of U.S. farm goods in Phase One trade deal
Chinese buyers booked their single biggest purchase of U.S. corn, extending their flurry of large U.S. purchases even as tensions between Washington and Beijing rise, reports the Minneapolis Star-Tribune.
The U.S. Agriculture Department said on Thursday that private exporters sold 1.937 million metric tons of corn to China for delivery in the 2020-2021 marketing year.
That topped the previous biggest deal to China of 1.762 million metric tons, reported just two weeks ago.
The recent purchases place China closer to the ambitious $36.5 billion target for imports of U.S. farm goods this year set in the Phase One trade deal. Analysts and traders said that target may be achievable, but it is looking like a stretch.